Spyglass Capital Management LLC Has $86.50 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Spyglass Capital Management LLC raised its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,539,436 shares of the medical research company’s stock after purchasing an additional 142,343 shares during the period. Exact Sciences accounts for approximately 4.9% of Spyglass Capital Management LLC’s holdings, making the stock its 8th biggest position. Spyglass Capital Management LLC owned approximately 0.83% of Exact Sciences worth $86,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXAS. Triglav Skladi D.O.O. acquired a new stake in Exact Sciences in the 4th quarter valued at approximately $1,025,000. Tema Etfs LLC bought a new position in Exact Sciences in the 4th quarter valued at about $843,000. Siemens Fonds Invest GmbH bought a new stake in shares of Exact Sciences during the 4th quarter worth about $215,000. Silvercrest Asset Management Group LLC lifted its stake in shares of Exact Sciences by 8.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,992 shares of the medical research company’s stock worth $449,000 after acquiring an additional 641 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Exact Sciences during the fourth quarter valued at approximately $149,000. Institutional investors own 88.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXAS. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Mizuho started coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They set an “outperform” rating and a $60.00 target price for the company. Robert W. Baird raised their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their price target on Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Finally, Piper Sandler dropped their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.90.

Exact Sciences Price Performance

Shares of EXAS stock opened at $56.42 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The stock’s fifty day moving average is $46.37 and its 200-day moving average is $52.08. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $72.83. The stock has a market capitalization of $10.64 billion, a PE ratio of -10.13 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Exact Sciences’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.60) earnings per share. Equities research analysts expect that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.